Am also posting this under NPL as I am trying to get things set up right. Does anyone have or know of an Excel worksheet template for keeping track of the accounting/bookkeeping involved in a note ownership? I am also keenly interested in how to properly account for owning title under land contract. For example, do I also get depreciation since I legally own the property? Thanks!
I would recommend using quick books for your accounting. It’s fairly inexpensive, and I think you would recover the cost of the software on your CPA fees at the end of the year by having your books in a state that CPAs can readily work with.
